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Education
I had this problem also. For me it was because the Student Info Worksheet was still using $10k toward the tax credit, despite the fact that I'm not eligible for the credit due to high income. Because I didn't get the credit, but the worksheet was still using $10k in expenses toward the credit, it reduced my expenses that were funded by the 529 withdrawal, making part of the withdrawal excess and taxable. The answer is not to tell people not to enter 1099Q info; the answer is for Intuit to get their act together and fix the problem. The Easy Step process asks people to enter the information, so people will enter the info. Some people I believe will pay thousands extra because of this issue. FIX IT.
‎February 21, 2023
11:46 AM